Brokerages Set Veralto Co. (NYSE:VLTO) Target Price at $95.18

Veralto Co. (NYSE:VLTO) has received a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $95.18.

VLTO has been the topic of several research reports. Citigroup lifted their price target on Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Robert W. Baird lifted their price target on Veralto from $90.00 to $98.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. BMO Capital Markets boosted their target price on Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. The Goldman Sachs Group initiated coverage on Veralto in a report on Friday, March 22nd. They issued a “buy” rating and a $104.00 target price on the stock. Finally, Stifel Nicolaus boosted their target price on Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th.

Insider Activity at Veralto

In other Veralto news, SVP Melissa Aquino sold 8,041 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $93.56, for a total value of $752,315.96. Following the completion of the sale, the senior vice president now owns 20,761 shares in the company, valued at $1,942,399.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Veralto news, insider Mattias Bystrom sold 500 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $86.10, for a total value of $43,050.00. Following the completion of the sale, the insider now owns 30,310 shares in the company, valued at $2,609,691. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Melissa Aquino sold 8,041 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $93.56, for a total value of $752,315.96. Following the completion of the sale, the senior vice president now owns 20,761 shares of the company’s stock, valued at approximately $1,942,399.16. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Institutional Trading of Veralto

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. bought a new position in Veralto during the fourth quarter valued at approximately $2,127,330,000. Capital International Investors bought a new position in Veralto during the fourth quarter valued at approximately $538,324,000. Brown Advisory Inc. bought a new position in Veralto during the fourth quarter valued at approximately $528,018,000. Impax Asset Management Group plc bought a new position in Veralto during the fourth quarter valued at approximately $347,827,000. Finally, Norges Bank bought a new position in Veralto during the fourth quarter valued at approximately $266,143,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Price Performance

VLTO opened at $93.64 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.83 and a quick ratio of 1.56. Veralto has a 52-week low of $65.51 and a 52-week high of $95.56. The stock’s 50 day moving average price is $88.86 and its 200-day moving average price is $80.74.

Veralto (NYSE:VLTO) last posted its earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.08. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Veralto’s revenue was up 1.7% compared to the same quarter last year. Analysts forecast that Veralto will post 3.34 EPS for the current year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date was Wednesday, March 27th.

Veralto Company Profile

Veralto Corporation provides water analytics, water treatment, marking and coding, and packaging and color services worldwide. It operates through two segments, Water Quality (WQ) and Product Quality & Innovation (PQI). The WQ segment offers precision instrumentation and water treatment technologies to measure, analyze, and treat water in residential, commercial, municipal, industrial, research, and natural resource applications through the Hach, Trojan Technologies, and ChemTreat brands.